Mid-term Business Strategy

 As for our automotive components business, we will concentrate production on our EPS systems, for which we hold the top position in the world. On the other hand, for the steering column business which is currently in the red, we will review the profitability of each project, and either increase our prices or withdraw from the business. Overall, we plan to scale down our U.K. automotive components business.
 We will transfer the management responsibilities of the automotive business from the European headquarters to the parent company so that the head office can directly control the automotive business on a world-wide basis. Furthermore, the number of production sites in the U.K. shall be reduced from the current three to one, and the workforce shall be reduced accordingly.